Brick Restaurant Building with
For Sale
$249,999
239 Main Street, Bluff City, TN 37618
Commercial Sale, Bluff City, TN
Property Size1,470 SF
Lot Size0.05 Acres
Price / SF$170.07
Days on Market204
Property Features for 239 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Directions
I-81S to exit 69. Left of 394. Right on 390. Left on Holston Dr., Right on Carter St., Right on main St. Property is on the Right.
Subdivision
106 - Bluff City
Standard status
Active
APN
097j C 010.00
Size
1,470 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
345
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Central Air, Wall Unit(s)
Water source
Public
Building Details
Year built
1920
Building materials
Brick
Roof type
Rolled Hot Mop
Listing Agency:
Coldwell Banker Security Real Estate · Coldwell Banker Real Estate
(423) 282-2595
Listed By:
Joseph Lavender · License #352265
(423) 972-7686
Added: Mar 7
Changed: Sep 13
Last Checked: Sep 27 at 11:06AM
MLS# 9992030
Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1920, this brick commercial building at 239 Main Street in Bluff City includes a 1,470-square-foot restaurant level configured for food-service operations. The main floor was remodeled within the past four years with new electrical, plumbing, flooring, and updated systems. Kitchen equipment, fixtures, and furnishings are included in the sale.
The second floor contains a partially finished living area with one bedroom and one bathroom. Additional upstairs space has new electrical, plumbing, and framing, providing the foundation for a private apartment or short-term rental, subject to applicable requirements. The property is zoned B1 and served by public water and public sewer, with central heating and multiple cooling systems.
The second floor contains a partially finished living area with one bedroom and one bathroom. Additional upstairs space has new electrical, plumbing, and framing, providing the foundation for a private apartment or short-term rental, subject to applicable requirements. The property is zoned B1 and served by public water and public sewer, with central heating and multiple cooling systems.
Key Highlights
- 1,470‑square‑foot main restaurant level remodeled within the past four years
- Sale includes kitchen equipment, fixtures, and furnishings
- Second floor includes a bedroom and bathroom in a partially finished living area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,545
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$310,900
$310.9K
Cap Rate 7%
$222,071
$222.1K
Cap Rate 9%
$172,722
$172.7K
Market Conditions
NOI Build-Up for 1,470 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.1K $15.00/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$20.7K $14.10/SF
− OpEx
−$5.2K −$3.53/SF
NOI
$15.5K $10.58/SF
Area
Sullivan County, TN
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$310,900
Cap Rate 7%
$222,071
Cap Rate 9%
$172,722
Alternative Uses
Best Use
Specialty Retail
$222.1K
$194.3K – $259.1K
NOI $15,545 @ 7.0% cap · market cap 6.22%
Second Best
Mixed Use
$184.3K
$161.2K – $215.0K
NOI $12,899 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$550.5K
$481.7K – $642.2K
NOI $38,534 @ 7.0% cap · market cap 15.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37618, TN
12,729
Population
6,250
Households
2
Avg Household Size
47
Median Age
17%
College-Educated
88%
High-School Grad
69.3 sq mi
ZIP Area
184
Density / Sq Mi
$58,413
Median Household Income
$37,003
Median Earnings
$880
Median Rent
$174,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Remodeled restaurant space includes kitchen equipment, furnishings, and a partially finished residential area above.
Where is this conventional restaurant located?
The property is located at 239 Main Street Bluff City, TN.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: 1,470‑square‑foot main restaurant level remodeled within the past four years; Sale includes kitchen equipment, fixtures, and furnishings; Second floor includes a bedroom and bathroom in a partially finished living area
